Pioneer Investment Management Inc. Takes Position in Ball Co. (NYSE:BLL)
Pioneer Investment Management Inc. purchased a new position in Ball Co. (NYSE:BLL) during the second quarter, Holdings Channel reports. The firm purchased 224,102 shares of the industrial products company’s stock, valued at approximately $9,459,000.
Several other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. purchased a new position in Ball during the first quarter valued at about $201,000. Geode Capital Management LLC raised its position in Ball by 9.4% in the first quarter. Geode Capital Management LLC now owns 1,637,759 shares of the industrial products company’s stock valued at $121,443,000 after buying an additional 140,259 shares during the last quarter. Credit Agricole S A raised its position in Ball by 17.4% in the first quarter. Credit Agricole S A now owns 103,163 shares of the industrial products company’s stock valued at $7,662,000 after buying an additional 15,280 shares during the last quarter. CWM LLC purchased a new position in Ball during the first quarter valued at about $4,529,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Ball by 30.9% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,957 shares of the industrial products company’s stock valued at $591,000 after buying an additional 1,877 shares during the last quarter. Institutional investors own 46.59% of the company’s stock.
Shares of Ball Co. (NYSE:BLL) opened at 40.16 on Friday. Ball Co. has a 52-week low of $35.65 and a 52-week high of $43.06. The company has a market capitalization of $14.13 billion, a P/E ratio of 56.96 and a beta of 0.95. The stock’s 50 day moving average is $41.90 and its 200 day moving average is $39.16.
Ball (NYSE:BLL) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. Ball had a net margin of 3.15% and a return on equity of 11.00%. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. Equities analysts expect that Ball Co. will post $2.03 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. Ball’s dividend payout ratio is presently 78.43%.
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BLL has been the topic of several recent analyst reports. Vertical Group restated a “hold” rating and issued a $43.00 target price (up previously from $41.50) on shares of Ball in a report on Wednesday. Deutsche Bank AG restated a “buy” rating and issued a $47.00 target price (up previously from $44.00) on shares of Ball in a report on Tuesday, July 18th. BidaskClub lowered shares of Ball from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC boosted their target price on shares of Ball from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Finally, Zacks Investment Research upgraded shares of Ball from a “sell” rating to a “hold” rating in a report on Monday, May 8th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Ball currently has an average rating of “Hold” and an average target price of $44.05.
In related news, Chairman John A. Hayes sold 5,655 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $41.19, for a total transaction of $232,929.45. Following the completion of the sale, the chairman now directly owns 407,575 shares in the company, valued at $16,788,014.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Daniel William Fisher sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total transaction of $73,097.50. Following the sale, the chief operating officer now owns 11,594 shares of the company’s stock, valued at $484,281.38. The disclosure for this sale can be found here. Insiders sold 117,654 shares of company stock valued at $4,839,833 over the last quarter. Company insiders own 2.70% of the company’s stock.
Ball Company Profile
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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